Wealth Index
Wealthier than 88% of states in US
The wealth index reflects the overall economic prosperity and financial well-being of a state's residents based on income levels, employment rates, and income inequality metrics.
Wealthiest and Least Wealthy Counties in Connecticut
- Western Connecticut Planning Region (125% of U.S. avg)
- Lower Connecticut River Valley Planning Region (119% of U.S. avg)
- Northwest Hills Planning Region (115% of U.S. avg)
- Southeastern Connecticut Planning Region (105% of U.S. avg)
- Greater Bridgeport Planning Region (106% of U.S. avg)
- South Central Connecticut Planning Region (106% of U.S. avg)
Ranked by the Map AI Wealth Index, which combines income, employment, and income inequality metrics.
Income Statistics Overview
| Metric | Connecticut | US Average |
|---|---|---|
| Median Household Income | $95,363 | $78,145 |
| Median Personal Income | $76,086 | $61,726 |
| Average income growth | 4.1% | 5.1% |
| Six-Figure Earners | 18.1% | 13.2% |
The median household income in Connecticut is about 22% higher than in US. Income has been growing slower in Connecticut (4.1%/yr) than in US (5.1%/yr).
About 18% of adults in Connecticut earn six figures ($100,000 or more) a year, higher than the US average of 13%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Connecticut grew by 39.8% from 2009 to 2023, reaching $95,363 in 2023. That's an average of about 4.1% per year.
Economic Inequality in Connecticut | Gender Pay Gap | Gini Coefficient
| Metric | Connecticut | US Average |
|---|---|---|
| Gini Coefficient | 0.555 | 0.570 |
| Male Median Income | $83,962 | $67,746 |
| Female Median Income | $68,602 | $54,793 |
| Gender Pay Gap | 18.3% | 19.1% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Connecticut, it is 0.555, lower than US's 0.570, so income is more evenly distributed here than there.
Men's income is about 22% more than women's income in Connecticut. Over a 35-year career, a 22% wage gap accumulates to roughly $537,600 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Connecticut has narrowed from about 24% to 18% in 2023. In dollar terms, the gap has widened by $778 since 2009.
Employment
| Metric | Connecticut | US Average |
|---|---|---|
| Unemployment Rate | 5.6% | 5.2% |
| Working from Home | 14.5% | 13.4% |
| Commute time (minutes) | 22 | 22 |
Approximately 96,418 people are unemployed in Connecticut.
The average commute time in Connecticut is 22 minutes, about the same as in US.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Connecticut has fallen from 8.4% to 5.6% in 2023.
Conclusion
Considering all these factors, Connecticut has an overall wealth index grade of B, making it somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Connecticut.
How Rich Is Connecticut?
Connecticut has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $95,363, about 22% higher than the US average of $78,145.
What is the current median household income in Connecticut?
As of 2023, the median household income in Connecticut is $95,363.
What was the median household income in Connecticut in 2023?
In 2023, the median household income in Connecticut was $95,363.
What was the median household income in Connecticut in 2020?
In 2020, the median household income in Connecticut was $80,604.
What is the Gini coefficient in Connecticut?
The Gini coefficient in Connecticut is 0.555. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.570, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Connecticut?
Since 2009, the income gap between men and women in Connecticut has narrowed from about 24% to 18% in 2023. In dollar terms, the gap has widened by $778 since 2009.